Zoho Founder Sridhar Vembu Says Political Corruption Is Driving India’s Soaring Real Estate Prices

Zoho founder Sridhar Vembu said political corruption is a major driver of India’s soaring real-estate prices, arguing that illicit money parked in property inflates land values beyond income levels. He also linked corruption in approvals and construction to higher development costs, rising rents and living expenses, adding that housing unaffordability may influence family formation and birth rates in urban areas.